Tadawul Review:

Tadawul All Share Index (TASI) closed positively for the ‎second consecutive session on Monday, rising +110 (+1%) to ‎close at 10,647 levels. TASI opened positively on the back of ‎the rise in Brent oil prices (~3%) following the positive news ‎in China about the opening of the borders and the easing of ‎restrictions related to COVID-19, as well as a decline in the ‎dollar index on Friday. TASI began the session on a positive ‎note and continued to do so until the session ended at its ‎intraday high in the closing auction. Banks sector contributed ‎the most to the index's rise (+0.9%), followed by Materials ‎‎(+1.9%) and Food and beverages (+2.4%), as they contributed ‎to the index's rise with a total of 70 points. Stock-wise, Al ‎Rajhi Bank (+1.3%), Maaden (+4.5%), and SABIC (+2.7%) ‎contributed most to the rise of the index. Trading activity ‎also witnessed an increase in volume and value by 24% and ‎‎40%, respectively, to reach 136mn shares and SAR4.2bn. TASI ‎is likely to move in narrow range. ‎

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Market Wrap International:

The global equity indices moved higher on Monday with ‎investors drawing comfort from the drop in the US dollar ‎index, easing gas prices and the China economic re-opening ‎theme. In the U.S, the benchmark S&P 500 index fell 0.1% ‎leading by healthcare sector, Nasdaq Composite rose 0.6%. ‎The investors are bracing for the upcoming CPI data whereby ‎consensus expects further easing in inflation pressure in Dec-‎‎22 The treasury yields in the U.S retreated for 2-year and 10-‎year bonds.‎

In Europe, the investors’ optimism over gas price drop amid ‎warmer than expected winter and improved supply outlook ‎sustained for yet another session. China re-opening and Dec-‎end result season optimism also weighed on. The benchmark ‎Stoxx Euro 600 Index jumped 0.9% and extended its rally into ‎the second session. County-level indices were broadly positive. ‎

In Asia, the drop in US dollar index and China reopening ‎theme dominated the investors sentiment and lifted the prices ‎up.  TAIEX (+2.6%) and KOSPI (2.6%), HangSen (+1.9%) and ‎SESEX (+1.4%)  made significant gains while Shanghai ‎Composite Index (+0.6%) also recorded gains. Markets in ‎Japan were closed for trading on Monday.‎